Borrower is a large production home builder in the Southeast and repeat Southeast Bridge Capital customer. Borrower purchasing undeveloped land in the Atlanta MSA with plans to develop a total of 131 market rate rental homes. With their bank lines excluding undeveloped land without permits in hand, Borrower needed a mechanism to acquire and hold the property as they obtained final site plan and land disturbance permits (estimated at 6-9 months).

Having worked with the Borrower before, Southeast Bridge quickly agreed to 55% financing and was able to provide a fast and seamless closing in less than 30 days

Loan term is 9 months, allowing ample time to finish required permitting.  Borrower will place the permitted development on its bank lines to repay Southeast Bridge's loan.